It seems that the Brazilian Real has reached a turning point – Commerzbank

The Brazilian Real (BRL) does not seem to be doing so well this year. Economists at Commerzbank analyze BRL outlook.

At the turning point?

The mere fact that the BCB has now reached such a turning point certainly increases the risks that the Real could become more of an average performing currency this year. 

Above all, the Real may not be able to withstand political disruptions, such as the announcement a few days ago that state-owned Petrobas will pay a lower dividend than the market expected. Those who need to manage BRL risks should keep this in mind.